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Forensic accountant

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Does any one have a specialty in forensic accounting?
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I handle many co-ops. In situations where I prepare the 1098 forms, I typically use Box 4 as a supplementary information box, and use the wording "RET" with a dollar amount to provide the shareholder's allocated real estate tax deduction. I also put the shareholder's apartment number and number of stock shares owned in that box. Again, just supplementary information to go along with Tax Letter. I have done this for over 20 years. I just learned that for tax year 2014, the IRS sent one of the shareholders a bill for unreported income, using the RET amount as income, treating the RET abbreviation as "return" of some kind. Has anyone ever seen this or have ...
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Sub-rental of one office available : Great location in a Class A office building in Melville, NY, conveniently located along the Route 110 corridor. Windowed office, access to professionally appointed conference room and reception area. Includes utilities and office cleaning. Rent reasonable. Easily accessible from the Long Island Expressway, Northern State Parkway and Southern State Parkway. Large parking area, onsite drop-off boxes for Fed-Ex, UPS and US Mail. 24/7 proximity card access system and building security guard. Sincerely, Richard Punturo, CPA, CFP® Bernstein & Punturo, LLP 445 Broad Hollow Road- Suite# 204 ...
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The IRS doesn't initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. This includes requests for PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts. https://www.irs.gov/uac/Report-Phishin
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Wishing you & Your Family Peace and Happiness this Holiday Season and throughout the coming year. Robert Brown Michael Rubinstein Sandy Johnson President President President Nassau/Suffolk Chapter Educational Foundation NCCPAP NCCPAP
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IRS FBAR penalty conduct was capricious, so late payment interest and penalty voided Moore, (DC VA 7/24/2015) 116 AFTR 2d ¶ 2015-5094 A district court has held that IRS's conduct in assessing penalties for a taxpayer's failure to file FBARs (Report of Foreign Bank and Financial Account) with respect to his foreign account was arbitrary and capricious, in violation of the Administrative Procedures Act (APA). As a result, the court disallowed IRS's assessment of interest and late payment penalties with respect to the original FBAR penalties. Background. The Bank Secrecy Act (BSA) gave the Treasury Department authority to collect information ...
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For those of you who are readers of my blog, this an advance look at the latest in employment law rules affecting NYC employers. The tech gurus at Bartlett McDonough & Monaghan are seeking the best and most stable web host for my weekly blog. We are hoping to go live sometime in July but in the meantime, this subject is too important to keep in the queue. To be added to my listserv, please email me at: Ruth.Kraft@bmmllp.com . Thanks! Banning the Box is the moniker that the press has assigned to the New York City Fair Chance Act of 2015. Under the Act, employees are prohibited from inquiring, during the hiring process, about a job applicant’s ...
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Ask--Dont Assume!

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Happy June to you all. This is a short update on two things--me and the landmark Supreme Court ruling in the Abercrombie & Fitch matter. First, as of today, I have become Of Counsel to Bartlett, McDonough & Monaghan. BMM has a deep bench in complex litigation, labor law, healthcare law, workers' compensation, and collective bargaining and I am thrilled to join the team. All of you know how insane class action employment litigation, including wage/hour claims, has gotten in the past year. In order to take on major cases, I needed to be part of a major firm. I will be resident in the Mineola office: 170 Old County Road, Mineola, New York 11501-4112 ...
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U.S. SUPREME COURT RULES THAT US DEPARTMENT OF LABOR IS EXEMPT FROM RULEMAKING PROCESS! In Perez v. Mortgage Bankers Association, the Supreme Court overturned a Circuit Court decision which vacated the decision of the trial court based on the Department of Labor’s failure to comply with the procedural requirements of the Administrative Procedure Act (“APA”). Confused already? In summary, t he Supremes concluded that federal agencies are exempt from the notice and comment rulemaking process when they change their own interpretative rules. Some of you know that I rail against the NYS Department of Labor’s failure to adhere to its own published ...
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S Corporation has a group plan that either was in or out of the "NY Market Place" The two stockholders of the S-corporation dropped out of their group getting coverage via their broker individually through the "NY Marketplace." Their corporation pays their monthly premium. Am I able to show the premium gross and net payroll, pay no FICA/Medicare/FUTA or NYUI (thus W-2 shows in box 1 the premium paid and zero's in boxes 3 and 5 of the W-2) with the stockholders in turn picking up said premium as an adjustment to gross income? OR do they owe income tax withholding as well FICA/Med/FUI and NYUI? Is there a IRS issue because the corporation is paying ...
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IRSAC

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On Friday, Janaury 16, I was informed by the Internal Revenue Service that I received an appointment to IRSAC
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I have a start up modeling agency in California who wants to incorporate. Seems like all the options have a high tax or franchise fee. Any experience with small businesses in Cali and what's the best option? Thanks in advance. Vivian Gavalas, CPA
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Why is it so hard to find a good bookkeeper? If anyone has any referrals forward them to me. Thank you in advance! Vivian Gavalas Vivian@fpaccounting.com
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First, sincere thanks to everyone who attended my presentation on independent contractor status at the Tax Symposium. What a fantastic meeting. I thoroughly enjoyed meeting many of you and having the opportunity to be intellectually stimulated at the 1031 exchange presentation this morning! Mayor DiBlasio has just signed Intro 295-A, a bill passed unanimously by the City Council in October, 2014, which requires New York City companies with 20 or more employees to offer pre-tax transit benefits. Federal tax law already allows businesses to offer workers $130 in pre-tax income for transportation purposes. The motivation behind the law is simple: ...
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Check your emails if you are attending the 2014 Long Island Tax Professionals Symposium. Download the TWO special APPS to make your experience at the Symposium more pleasurable! The two APPS can be downloaded from the Apple I-Tunes APPS Store or Google Play. The two APPs are the GO.NCCPAP APP and the NCCPAP NEST APP
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Due to scheduling conflicts we are unable to use a week at the beautiful Eagles Nest Resort on the gulf in Marco Island Florida. Our reserved dates are November 7 thru November 14th. We have a two bedroom unit reserved in this tower with full kitchen and living area with pullout sofa. The deck overlooks the gulf. Let me know if interested in renting at this five star award winning resort. Gary Sanders Garys@rsgnccpas.com 516-459-01
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Call ken at 516 639-0858
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Your brand on the net is more important and more visible than ever in this mobile-infused economy. Chances are that your prospect's first impression of your firm will happen via a mobile-enabled device. Check out my LinkedIn blog series for practical tips to build your web image from your website to social media to mobile and local search. Or join me for a lunch presentation at LITPS in November on the same topic! https://www.linkedin.com/today/author/736098
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One of my employment law colleagues has now gone so far as to say that an employer has better odds of beating the house in Vegas than in winning a case brought by the National Labor Relations Board. In recent cases, the NLRB has argued that a restaurant's employee handbook should not include a rule against disrespect for guests, as this was overbroad. It has serious issues with rules prohibiting insubordination to managers or disrespect to co-workers! All this makes me wonder, on a daily basis, what the NLRB's own employee handbook contains and whether any of the things it finds so problematic in the private sector should even be at issue. In one case, ...
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The HIPAA Compliance Team

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I am delighted to share this piece, written by my talented young associate, Erica Youngerman, who specializes in Healthcare Law. I incorporate HIPAA compliance into my Employee Handbooks because with our alphabet soup of statutes, including FMLA (Family Medical Leave Act), ADA (Americans with Disabilities Act), and Title VII on the federal level as well as their state and local concomitants, this subject matter is relevant to every client-----and certainly to the accounting professionals with whom I collaborate. Acting as a fiduciary on behalf of a client carries with it tremendous weight, especially when tasked with policing activity that ...
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